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Sep 30, 2023
Outfront Media Q3 2023 Earnings Report
Reported slight revenue increase driven by billboard revenue and local business strength, and announced strategic sale of Canadian business.
Key Takeaways
OUTFRONT Media Inc. reported a slight increase in revenue for Q3 2023, driven by billboard revenue and strength in local business. The company also announced an agreement for the strategic sale of its Canadian business to Bell Media to increase financial flexibility.
Revenues increased slightly to $454.8 million.
Billboard revenues increased due to higher average revenue per display and the impact of new and lost billboards.
Transit and other revenues decreased primarily due to a decrease in average revenue per display.
Adjusted OIBDA decreased by 5.1% compared to the same prior-year period.
Outfront Media
Outfront Media
Outfront Media Revenue by Segment
Revenue by Segment
Billboard Revenue
CapyFin.comTransit Revenue
CapyFin.com Forward Guidance
OUTFRONT Media did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income